What is causing the current downward trend?
I have been watching the price of BTC pretty regularly for the last 2 months. More specifically when it was stalled at $380 for a couple weeks and making no significant movement. Then 2 weeks ago we saw the first actual movement in awhile, losing $30 and going down to $350. Over the last week or so we have all watched it go downward to $330 yesterday, and at the time of this writing it is at $317 today.
Could someone help me understand what is causing this decline? If anything, with Microsoft and Time now accepting BTC, I would of expected the price to increase some. And I remember when the news that Microsoft was accepting came out, the price went up $10, but obviously has since come back down.
What is causing such a rapid drop? It’s a large question, but what are the big factors and variable?
